Buffalo tops list of most affordable cities for millennial homeowners

Most Read

While it is true that a timeshare contract is a binding legal document, it is often mistakenly thought that such a contract cannot only be cancelled. In fact, most timeshare companies maintain that their contracts are non – cancellable. This misconception is perpetuated by timeshare companies and user groups that are funded, maintained and controlled by the timeshare industry.

The FHA 203k loan program provides home buyers the opportunity to buy and fix up a property, without exhausting their personal savings.

Buffalo, N.Y. is the most affordable city in the U.S. for millennials to buy a home, according to Credit Karma.

The website gathered data from more than 40 million members that have a mortgage to determine where millennials might be able to afford homes, taking into account how much millennials could expect to make in certain cities, as well as how long it would take to pay off their mortgages.

The study assessed how quickly millennials could pay off their mortgages presuming they paid 28% of their income toward paying down the debt. In that case, the average millennial living in Buffalo could pay off a mortgage in just 107.4 months (just under nine years). In contrast, it would take the average millennial as long as 534.2 months (44.5 years) to pay off a mortgage in Los Angeles.

Here’s Credit Karma’s list of the U.S. cities where millennials could best afford a home, along with the average number of months it would take to pay off a mortgage: